GH Research (NASDAQ:GHRS) Stock Price Up 4.1% - Here's What Happened

Key Points

• GH Research PLC's stock price increased by 4.1% to close at $13.07, despite a significant decline in trading volume compared to its average.
• Analysts have a positive outlook on GH Research, with seven buy ratings and a target price averaging $32.00, including a reaffirmed "market outperform" rating from JMP Securities.
• The company is engaged in developing therapies for psychiatric and neurological disorders, specifically focusing on 5-MeO-DMT for treatment-resistant depression.

GH Research PLC (NASDAQ:GHRS - Get Free Report)'s share price rose 4.1% during trading on Thursday . The stock traded as high as $13.16 and last traded at $13.07. Approximately 40,456 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 340,805 shares. The stock had previously closed at $12.56.

Analyst Ratings Changes

GHRS has been the subject of several research analyst reports. JMP Securities reaffirmed a "market outperform" rating and issued a $39.00 price objective on shares of GH Research in a research report on Tuesday, June 24th. Wall Street Zen raised shares of GH Research from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Guggenheim decreased their price objective on shares of GH Research from $32.00 to $29.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Cantor Fitzgerald began coverage on shares of GH Research in a research report on Wednesday, June 4th. They issued an "overweight" rating and a $25.00 price objective for the company. Finally, HC Wainwright reissued a "buy" rating and set a $40.00 price target on shares of GH Research in a research report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, GH Research currently has an average rating of "Moderate Buy" and an average target price of $32.00.

GH Research Stock Performance

The firm's 50 day moving average price is $13.90 and its two-hundred day moving average price is $12.10. The firm has a market cap of $674.28 million, a PE ratio of -17.51 and a beta of 0.98.

GH Research (NASDAQ:GHRS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.07. On average, analysts forecast that GH Research PLC will post -0.8 earnings per share for the current year.

Institutional Trading of GH Research

Institutional investors and hedge funds have recently bought and sold shares of the business. Cormorant Asset Management LP increased its stake in shares of GH Research by 238.8% during the first quarter. Cormorant Asset Management LP now owns 2,009,482 shares of the company's stock worth $22,165,000 after buying an additional 1,416,439 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of GH Research during the first quarter worth approximately $8,272,000. Lynx1 Capital Management LP increased its stake in shares of GH Research by 15.8% during the fourth quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company's stock worth $34,013,000 after buying an additional 663,100 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of GH Research during the first quarter worth approximately $5,018,000. Finally, RA Capital Management L.P. increased its stake in shares of GH Research by 3.9% during the first quarter. RA Capital Management L.P. now owns 6,944,648 shares of the company's stock worth $76,599,000 after buying an additional 257,959 shares during the period. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

GH Research Company Profile

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).

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